Prince William Owns the Duchy of Cornwall
As he is now the Duke of Cornwall, a role he inherited from his father King Charles, Prince William now owns the Duchy of Cornwall.
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This means that William is in control of the land and any properties or dwellings that are part of the Duchy of Cornwall.
The Duchy of Cornwall Is Mostly Outside of Cornwall
Despite what the name suggests, most of the land that is part of the Duchy of Cornwall isn’t actually in Cornwall.
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A lot of the land is in Devon, with various other parts of it being scattered around the rest of the U.K., and consists of 52,449 hectares of land, per the Duchy of Cornwall.
The Duchy of Cornwall Owns Some Famous Landmarks in the U.K.
Some of the land included in the Duchy of Cornwall is home to some famous landmarks in the U.K.
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The Duchy of Cornwall owns land in Kent, Oxfordshire, and even Greater London, with one of the buildings owned in Greater London being the Oval cricket ground, according to Who Owns England.
The Duchy of Cornwall Is Worth £1 Billion
When Queen Elizabeth passed away, this is what led Prince William to become Duke of Cornwall, and with this, he inherited a hefty amount of land and money.
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ITV has reported that the Duchy of Cornwall is reportedly worth around £1 billion, which is around $1.27 billion.
Prince William Doesn’t Make Any Profits from the Duchy of Cornwall
Despite the Duchy of Cornwall being worth $1.27 billion, Prince William isn’t expected to make any profits from it.
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William will only receive the annual income from the Duchy of Cornwall, which is currently £24 million ($30.5 million), according to The Daily Mail.
The British Royal Family Was Previously Bankrupt
You might not expect this from a royal family, but in 1760 when George III was king, the British royal family was bankrupt.
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This meant that most of the land owned by the royal family was passed on to the British government, except the Duchy of Cornwall remained in the royal family, along with the Duchy of Lancaster, as they weren’t worth anything.
Only the Eldest Son Can Become the Duke of Cornwall
Much like the rule that only the eldest son would be heir to the throne, which was only changed in recent years, only the eldest son of a monarch can become the Duke of Cornwall.
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This means that when King Charles dies and Prince William becomes king, his eldest son, Prince George, will inherit the role of Duke of Cornwall and the Duchy of Cornwall that comes with it.
The Duchy of Cornwall Has Doubled in Size Since the Victorian Era
Many might think that royalty owning the Duchy of Cornwall is an old tradition that is no longer a big deal, but the land owned by the duchy has doubled since the Victorian era.
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In the Victorian era, the Duchy of Cornwall was around 29,992 hectares, according to an archived version of The Great Landowners of Great Britain and Ireland from 1883.
The Duchy of Cornwall Is the Largest Private Landholding in England
It might only make sense to some that the future King of England should own the largest private landholding in England.
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However, this involves a lot of transparency to gain the trust of the U.K. public. This also means showing concern for the environment, providing affordable and attractive quality housing, and creating long-term value.
Prince William May No Longer Have the Public’s Trust with the Duchy of Cornwall
Part of gaining trust with the Duchy of Cornwall is to have affordable housing, but with recent plans for new housing on this land, these are said to be not so affordable.
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The plans suggest that only 40% of the proposed housing development will be affordable, which puts into question how much trust the British public will have in Prince William should this go ahead.
Prince William’s Tenants Cannot Buy Their Properties
The royal family can exempt themselves from a few laws and reforms, one of which applies to the Duchy of Cornwall is the 1967 Leasehold Reform Act.
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This exemption happened under King Charles when he was Duke of Cornwall and means that residents living in properties on the Duchy of Cornwall estate are unable to buy their homes, even though people living outside of the duchy can do so, according to The Guardian.
Prince William Is Actively Involved with the Duchy of Cornwall
It may be assumed that Prince William would be too busy to oversee the Duchy of Cornwall, and that it is managed by someone else.
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However, Prince William is actively involved in managing the Duchy of Cornwall, something that many other Dukes of Cornwall have done before him.